Hylife Group, a leading company in real estate development, asset management, and manufacturing, has reported a notable performance for the fiscal year 2023, achieving a net revenue of 420 million baht, a 150% increase from 2022's figures of 168.16 million baht.

The business unit Hylife Global Food emerged as the largest revenue contributor, accounting for 45% of total income.

The group is set to open new business units, expressing confidence in the ongoing recovery of Thailand's economy and aiming for an ambitious revenue target of 1.217 billion baht by the end of 2024.

The CEO, Mr. Shubhodeep Das, highlighted the key factors influencing the impressive results for 2023, noting the diversified business structure of Hylife Group, which mitigates risk and enhances revenue stability.

The manufacturing division saw particularly strong growth, especially from Hylife Global Food, which increased revenues from 86.40 million baht in 2022 to 187.09 million baht in 2023. Similarly, Dr. Hygiene Medical Products reported revenue growth, rising from 23.21 million baht to 43.30 million baht, reflecting increased demand in the medical product sector.

Moreover, the recovery of the real estate market has significantly influenced the overall revenue growth, as the group showcased its capacity to develop projects that meet consumer demand.

The Hylife Global Food business unit contributed 44.73% of the overall revenue, marking it as a pivotal segment for the group's financial success.

For 2024, Hylife Group is evaluating exciting investment opportunities aimed at establishing new business units that could bolster revenue while simultaneously contributing to sustainable community development.

Mr. Das articulated a growth vision centered on three key aspects: reinforcing the core businesses of food, real estate, and medical products, advancing employee development with enhanced welfare and training programs, and elevating the brand’s standing in consumers' minds through community enrichment initiatives.

In the past year, Hylife Group has received numerous prestigious awards, including the FMCG Award for Product Launch of the Year and Eco-friendly Initiative of the Year for Hylife Global Food, along with awards recognizing leadership and innovation in sustainable development from various industry bodies.

These accolades serve as a motivating factor for the management and staff, reinforcing their commitment to ethical business practices and societal contributions.

The strengths attributed to Hylife Group include its holistic sustainability strategy, which fosters collaboration across sectors while integrating social and economic considerations into business operations.

The emphasis on local sourcing, labor elevation, and educational support reflects the group's commitment to community welfare.

Additionally, its diverse business structure spans several key industries, allowing for revenue diversification and long-term stability.

Looking ahead, the company has outlined intentions for CSR initiatives, including the Hylife Hackathon and innovation excellence awards, focused on supporting social and environmental solutions through the empowerment of entrepreneurs and youth.

Mr. Das indicated that fostering creativity and technology will be crucial in driving sustainable development for the future.

In terms of the broader economic outlook, Mr. Das noted that Thailand's economy is expected to continue its recovery trend in 2024, supported by tourism, domestic consumption, and infrastructure investment, which will positively impact Hylife Group's core sectors.

The ambitious goal of achieving a revenue target of 1.217 billion baht suggests a robust growth trajectory, reflecting a remarkable projected growth of 291%.